On September 1, 2010, you decided to put $ 12000 in a money market fund. On March 1, 2015, you deposit another $ 15000 and on Jan 1, 2018, you added another $ 13000. This fund pays interest at the annual rate of 7.2%, compounded monthly. Find the future value of the fund on January 1, 2019, one year after the third deposit.
On September 1, 2010, you decided to put $ 12000 in a money market fund. On March 1, 2015, you deposit another $ 15000 and on Jan 1, 2018, you added another $ 13000. This fund pays interest at the annual rate of 7.2%, compounded monthly. Find the future value of the fund on January 1, 2019, one year after the third deposit.
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Transcribed Image Text:On September 1, 2010, you deciged to put $ 12000 in a money market fund. On March 1, 2015,
you deposit another $ 15000 and on Jan 1, 2018, you added another $ 13000. This fund pays
interest at the annual rate of 7.2%, compounded monthly. Find the future value of the fund on
January 1, 2019, one year after the third deposit.
O a. $ 33782.18
O b.$ 37066.46
Oc.$ 35010.01
• d. $ 36998.80
O e. $ 35903.40
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